Wed, May 03, 2017 11:30 EST

Not for release, publication or distribution, directly or indirectly, in whole or in part, into or in the United States, Canada, Australia or Japan or any other jurisdiction in which it would be prohibited by applicable law. This announcement does not constitute or form an offer of securities in the United States, Canada, Australia, Japan or any other jurisdiction.

Please see the important notice at the end of this announcement.

Today, Sonera Holding B.V., a wholly owned subsidiary of Telia Company AB, announces the launch of an accelerated bookbuilding offering to institutional investors of approximately 150 million shares in Turkcell Iletism Hizmetleri A.S. (Turkcell), representing approximately 6.8 percent of Turkcell’s issued share capital.

Telia Company’s total interest in Turkcell is approximately 38.0 percent of its issued share capital, comprising a 14.0 percent direct stake and 24.0 percent indirect stake. If all offered shares are sold, Telia Company’s direct stake in Turkcell will be reduced to 7.2 percent.

Today's proposed sale of a portion of Telia Company's shareholding in Turkcell is consistent with the strategy to focus on operations in the Nordics and Baltics. Telia Company will continue to be the largest shareholder in Turkcell in economic terms post today's proposed transaction. There is no present intention regarding any sale of the shares that represent Telia Company’s indirect interest in Turkcell.

The offer price and final number of shares sold will be determined by Telia Company at the conclusion of the bookbuilding process and will be announced in a separate press release. The transaction is expected to settle on May 8 2017.

BofA Merrill Lynch, Citi and UBS are acting as Joint Bookrunners for the Offering.

Telia Company has undertaken to the Joint Bookrunners not to sell any further shares owned in the 90 days following closing of the sale, subject to waiver by the Joint Bookrunners and customary exceptions.

This information is information that Telia Company AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.30 CET on May 3 2017.